Electrolux shares plunge, hit by US demand slump, rights issue

Electrolux AB

24/04/2026 08:30

Updates share move, adds milestones ,details, analyst comments

** Shares in Electrolux ELUXb.ST plunge 24% after the Swedish home appliance maker posted much lower-than-expected Q1 numbers, citing slumping demand in North America, while it announced a rights issue with a diluting effect

** Electrolux reports its adjusted operating profit in the quarter falling 56% yoy to 198 million Swedish crowns ($21 million), against an average forecast 781 million

** The group's organic sales in North America fell 11.6% in Q1, hit by tariff costs and Electrolux changed its outlook for the market to "negative" from "neutral to negative"

** On Thursday Electrolux announced a rights issue amounting to 9 billion crowns, which J.P.Morgan said would lead to a "significant dilution"

     ** On Thursday it also announced a
cooperation
 with Chinese peer Midea 000333.SZ, which will result in production reshuffling in the U.S., write-downs

** "We expect significant cuts to consensus expectations, and the impact on EPS will be even higher due to the planned capital increase", JPM says

** Electrolux shares set for worst day on record, down to lowest levels since March 2009

($1 = 9.2663 Swedish crowns)

 (Reporting by Boleslaw Lasocki)

 ((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))